TORONTO — Mayor Olivia Chow wants a second term on a promise to keep property tax hikes “at or around” inflation — after three budgets that raised the residential rate 9.5%, then 6.9%, then 2.2%.That is more than 18% in one term. Canada’s inflation rate was 3% in July. The pledge is not a freeze and not a hard cap. Council still sets the budget each year.Chow’s campaign said a new term would look like 2026, not 2024. Spokesman Shirven Rezvany said she “didn’t create Toronto’s financial crisis but took responsibility to fix it.” Opponents say the record is the record.Coun. Brad Bradford, running for mayor, said voters have “every reason not to take her word for it this time.” He argues this year’s smaller hike was padded with reserve draws and that the bill comes due in 2027. Former Conservative MP Chris Alexander, also on the ballot, has pledged a residential freeze in year one. After a historic run-up, he said, most homeowners will not believe City Hall suddenly found restraint.The 2026 combined increase — 0.7% for operations plus a 1.5% City Building Levy — added $91.53 to the average homeowner’s annual bill. Chow’s team points to an AA+ credit rating and a smaller operating hole than when she took office. How much of that is Queen’s Park and Ottawa cash, and how much is one-time reserve spend, is the fight her rivals intend to have until Oct. 26.
